PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

NOTE 5 — PROPERTY AND EQUIPMENT

Property and equipment is comprised of the following at June 30, 2013 and December 31, 2012:

	Estimated Useful Life	2013		2012
Field operating equipment	3 – 10 years	$	81,944	$	82,798
Vehicles	3 – 5 years		3,593		2,408
Leasehold improvements	2 – 5 years		459		473
Software	3 – 5 years		998		1,063
Computer equipment	3 – 5 years		4,280		4,080
Office equipment	3 – 5 years		830		864
			92,104		91,686
Less: Accumulated depreciation and amortization			(28,134)		(21,230)
Total		$	63,970	$	70,456

The Corporation reviews the useful life and residual values of property and equipment on an ongoing basis considering the effect of events or changes in circumstances.

Total depreciation and amortization expense for the three months ended June 30, 2013 and 2012 was $3,683 and $2,973, respectively, of which $3,426 and $2,824, respectively, was recorded in direct operating expenses and $257 and $149, respectively, was recorded in depreciation and amortization. For the six months ended June 30, 2013 and 2012, total depreciation and amortization expense was $7,458 and $5,756, respectively, of which $6,936 and $5,468, respectively, was recorded in direct operating expenses and $522 and $288, respectively, was recorded in depreciation and amortization.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details